US - Oklahoma's Teachers' Retirement Fund (TRS) is causing the state its biggest fiscal issue to date, according to commentators.
The fund is US$7.5bn under-funded and - given that the entire state budget is only $7bn - there seems to be no quick fix in sight.
The senate is looking at plans to either redirect around $43m from state mineral rights to the ailing fund or increase funding from taxes by half a percentage each year until 2011, which would close the gap by 2026.
Oklahoma TRS claim that their system is one of the worst funded in the country, due to state contributions not being equal to national levels.
The system’s asset allocation stands at 53% domestic equities, 17% international equities and 30% fixed income.
Investors, driven by depressed interest rates, slower global economic growth and rich equity market valuations are examining non-traditional investment opportunities.
The registration deadline for the Workplace Savings & Benefits Awards 2019 is today.
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